CLEVELAND — Cleveland Cliffs has completed its acquisition of Stelco Holdings Inc., company officials announced Friday.

The addition of Stelco enhances Cleveland Cliffs’ standing as the largest producer of flat-rolled steel in North America, diversified the company’s end-markets and expands its geographical presence in Canada.

Stelco will become a wholly owned subsidiary of Cleveland Cliffs, continuing use of its name.

“Today marks a transformative step forward for Cleveland-Cliffs,” stated Lourenco Goncalves, chairman, president and CEO of Cleveland Cliffs.

“By bringing Stelco into the Cliffs family, we are building on our commitment to integrated steelmaking and good paying union jobs in North America. This acquisition allows us to further diversify our customer base and lower our cost structure. We are excited about the opportunities this acquisition brings and appreciate the warm welcome we have received from all government officials in Canada.

“We take our permission to operate very seriously and aim to continue the Stelco legacy with dedication and purpose.”

Based in Hamilton, Ontario, Stelco was created in 1910 — known as the Steel Co. of Canada, according to the company’s website — through the merger of three smaller companies.

It was acquired by U.S. Steel in 2007, and renamed U.S. Steel Canada, returning to operate as an independent steelmaker in 2017.